Thursday, January 15, 2009

Another one bites the dust.

Anglo Irish Bank is nationalised

The Irish Government has said it is to nationalise the Anglo Irish Bank. The state had planned on pumping 1.5bn euros (£1.4bn) into the bank, but decided that recapitalisation was not the way to secure its future. Ministers had been due to hand over the money in return for 75% shares with an annual fixed dividend being paid to the government of 10%

Posted by flintster1994 @ 09:03 PM (2006 views)
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15 thoughts on “Another one bites the dust.

  • This Bank has been top of the moneyfacts savings selection for months

    No notice accounts without bonus – AIB @ 4.55%

    Notice accounts without bonus – AIB @ 4.65%

    Fixed rate accounts – AIB @ 5% (1yr) & 4.50 (5yr)

    A flood of fresh cash (much of it from UK depositors) and it still needs Nationalising – things must be getting worse in the banking world (check out todays share prices for verification)

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  • Yawn. This has been inevitable for a long time. People were pointing out over a year ago that Irish banks were more exposed to property than Japanese banks were when they morphed into the undead nearly 20 years ago.

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  • mark wadsworth says:

    I won’t exactly say *yawn*, but when we look back at this whole debacle in ten years time, we’ll say, “Ah yes, the first signs of impending doom were when Northern Rock, Bradford & Bingley and the AIB were nationalised. Of course it snowballed from there, which is why …”

    Which is why what? How will the story end?

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  • Which is why I’m sitting in my pants eating tinned beans.

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  • gardeniadotnet says:

    4. jackas said… Which is why I’m sitting in my pants eating tinned beans.

    Now c’mon, you’ve always done that – stop trying to blame the credit crunch. lol

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  • gardeniadotnet says:

    5. gardeniadotnet said… lol

    Laugh out Loud, not Land of Leather – sorry for any confusion.

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  • flintster1994 says:

    Nice one Jackass!

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  • gardeniadotnet says:

    3. mark wadsworth said… How will the story end?

    Mark becoming apocalyptic??? The end really is nigh!!! Man the Lifeboat (Ark?) !!!

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  • gardeniadotnet says:

    Hey Mark, why was Noah p.doff?

    A: He found that Mount Ararat was subject to Land Value Tax.

    LofL

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  • mark,
    Anglo Irish Bank is not AIB. AIB is short for Allied Irish Banks. So it wasn’t the biggest Irish bank that was nationalised today.

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  • mark wadsworth says:

    @ Gardenia, obviously, as the waters rose and land became scarce, those who chose to occupy the dry bits had to pay a bit more in tax, those happy to live knee deep in water didn’t pay much and the rest drowned.

    I personally would rather pay a bit more tax than drown, but hey.

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  • gardeniadotnet says:

    Mark: chapter 3 ; verse 7…..

    As the waters rose and land became scarce, those who chose to occupy the dry bits had to pay a bit more in tax, those happy to live knee deep in water didn’t pay much and the rest drowned.

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  • Perhaps I should mention that AIB is Allied Irish Bank, which is not the same bank as Anglo Irish Bank.

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  • gardeniadotnet says:

    Ireland nationalised Anglo Irish Bank after the share price of the country’s third-largest lender had collapsed in recent days amid reports of large-scale withdrawals.

    Financial Times: Last updated: January 16 2009 08:20

    The quietest bank run so far?

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  • What will happen? I suppose the worst case is a govt default. I believe Ireland was highlighted recently, along with Spain and others, as a country that might.

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